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because of the impasse and also the fact that the consequences of the fiscal cliff, these spending cuts and these tax -- pardon me the spending cuts and the tax increases that kick in here at the end of the year, the consequences are very dire and following the election the white house and democrats think that they can really push republicans into a corner here. >> brianna keilar for us. thank you. just ahead we're going to be talking with connecticut senator richard blumenthal will join us to talk a little bit about the democrats' responsibility about this impending fiscal cliff. another story we're following, friends and family of kansas city chiefs jovan belcher looking for answers this morning after he killed his girlfriend and then took his own life. his team took to the field just a day after the tragedy. it was i guess kind of a somber victory. they beat the carolina panthers 27-21. just their second game of the season. saturday morning belcher shot his 22-year-old girlfriend kasandra perkins and then turned the gun on himself outside the practice facility. he and perkins leave b
over that so-called fiscal cliff. tax hikes and spending cuts kick in if no agreement is reached between the house and republicans on how to close the budget gap. it has been more than two weeks since president obama invited the major players to the white house to discuss the situation. as of this morning, no new talks are scheduled. brianna keilar joins us. so many republicans say they are pessimistic about a deal happening in time to avert this fiscal cliff. some say it's for political reasons. what can you tell us? >> it may all be for political reasons. that's no surprise in washington. as you can seen through dealmaking not just on this but things in the past couple of years between the white house and congress, there is almost this rhythm that has evolved. both sides are pointing to the other for an impasse. republicans like senator lindeyy graham just slamming the white house and tim geithner for a plan he laid out on behalf of the administration, laying out about $1.6 trillion in new revenues coupled with only about $400 billion in medicare cuts. listen to what graham sai
. >>> call it the fiscal cliff follies, because with 28 days remaining before massive tax hikes and spending cuts kick in, democrats and republicans are ridiculing each other's ideas. it's a recipe for recession. the gop offering up its first plan which calls for $2.2 trillion in deficit savings over the next decade, including $800 billion in tax reforms, 600 million in medicare reforms and spending cuts. but the president rejected it outright because it does not contain tax hikes for the rich. time is running out. any sign of serious negotiation on the horizon? >> i'd say on the horizon, that would be fair. the log jam that you're watching, we're expecting to continued likely until next week. so don't be surprised if you see that. i think the policy prescriptions here, what needs to be done to find a package for deficit reduction are clear. right now you're watching the politics play out. all you need do is open your ears, listen to the white house, listen to congressional republicans you'll hear them playing the blame game. >> making vague promises about achieving revenue through capping d
to zoraida sambolin for an update on the day's top stories. >> soledad, the fiscal cliff debacle, with 28 days remaining before drastic tax hikes and spending cuts take effect, a republican spending plan has been rejected by the white house. brianna keilar is live from washington. what now, brianna? >> well, right now it's about the pressure building and the clock kicking, zoraida. as house republicans in the white house try to ultimately broker a deal between two very different plans. house speaker john boehner's counteroffer, if you take a look at the headlines from this $800 billion in what would be savings from tax reform. so that is new tax revenue. but not done by increasing income tax rate on the wealthiest. but instead by closing tax loopholes, eliminating tax credits. and also $600 billion in health savings. that's what you'd get from entitlement reform. from reforming medicare, and doing some cuts there under this plan. but compare it to the white house plan, very different than what's on the table there. $1.6 trillion in new taxes. that is two times the amount in the boehner pl
to tax and spend. they don't like the plan. is our plunge off the fiscal cliff inevitable? >> and secretary of state stiewfn rice, the ambassador still getting a ton of support from the white house but benghazi may not be the only blemish on her record. >> and baby jesus benched and now frosty the snowman starring in school's nativity scene? why do atheist have more rights when it comes to the constitution? "fox & friends" hour two starts right now. >> sparkles all over. >> you guys looked very pretty in your sweater? >> dapper? >> pretty. >> send us your ugly christmas sweater photos this morning. friends at foxandfriends.com. >> did you guys plan this? >> no. >> we are wearing the exact same tie. >> we didn't plan. this didn't call each other ahead of time like ladies do. >> it's reichmuth's fault. he actually picked mine out. let's talk about the fiscal cliff which we appear to be speeding towards every day because there is nothing that even resembles a compromise on capitol hill. the president offered up his proposal this week and it was met with. [ laughter ] by some
. >>> treasury secretary tim geithner is holding talks about avoiding the year-end fiscal cliff of tax hikes and spending cuts. republicans are asking for more details from the white house about how president obama would curb the growth of benefit programs like medicare and medicaid. >>> the woman who could be nominated as the next secretary of state got a big show of support wednesday in the face of growing republican criticism. president obama called susan rice extraordinary and said he couldn't be more proud of the job she's done representing the u.s. at the united nations. and outgoing secretary of state hillary clinton said rice has done a great job. rice has been under fire, though, for her initial comments about the deadly september attack on the u.s. consulate in libya. >>> president obama welcomes election rival mitt romney to the white house today. they'll have a private lunch together. the president promised in his victory speech to meet with romney after their bitter campaign and consider his ideas for making government more efficient. >>> and yet another arrest this morning for
all this rang lg about the fiscal cliff isn't the goal. with the president asking for $50 billion in stimulus spending, do you worry they might be losing sight of that? >> the best thing for the country is to go over the fiscal cliff. it maximizing the deficit reduction. there's no deal cut between republicans and democrats. it's not going to reduce the amount of money coming out of the deficit by a lot. so if you do that, you go back to the clinton tax rates, cut some defense and we have a short, mild recession for two quarters. we have to get serious about the deficit e. i have no belief that the congress is going to get serious about the deficit. so tom cole was right because he wants to get the republicans back in the mainstream. but the best thing the country could do is go over the cliff. >> timothy geithner doesn't agree with you on that. >> he may or may not. but i looked at this a lot of ways. the people inside washington are awfully smart and awfully out of touch. we need to do something about the deficit. going over the fiscal cliff is the best thing we're going to get
-called fiscal cliff, but so far there's been more rhetoric than resolve. there's now less than a month to head off the automatic tax hikes and spending cuts that will kick in next year. john boehner said he can't believe the latest white house proposal. the obama administration insists there's no deal without a tax increase. susan mcginnis is in washington with details this morning. susan, good morning to you. >> reporter: good morning, terrell. it may appear the two sides are nowhere but these talks are expected to pick up dramatically very soon. december is here and as they say here in washington the lawmakers can smell the jet fumes meaning the planes taking them home for their holiday recess. what we're hearing there should be a deal by christmas. the white house is already decorated for the holidays but the mood here in washington is anything but festive. >> i think we're going over the cliff. >> reporter: if congress doesn't act america will ring in the new year with $110 billion in spending cuts and a $500 billion tax increase leaving the average household with a nearly $3,500 hangover.
, starting january 1st we go over that so-called fiscal cliff, tax rates go up not just for the rich but for the middle class, for everyone, all those cuts in domestic spending and naths security spending, they go into effect. people aren't going to be happy about that, and the president will be able to say, look, i begged them, i repeatedly said 98% of the american public, they wouldn't get a tax increase if we just took them out of the equation, let's pass legislation extending the bush tax cuts for everyone earning under $250,000 a year. they didn't do it. so, you know, he'll have some leverage on that in terms of the politics because politically, you know, the polls all are very consistent. the election results are pretty consistent. the american public is ready for a modest increase in taxes for the upper 2% of taxpayers. having said that, there's another issue that's coming up in february or march and that's raising the debt ceiling once again. the republicans have a lot of leverage on that right now because the white house, the administration will desperately want to raise tha
Search Results 0 to 8 of about 9